Investors beg G7 to stick with Paris climate agreement

May 26, 2017

As the world’s seven largest economies meet in Italy today and tomorrow, the summit is being watched by environmentalists and companies alike for what could be a world-altering decision. Will Donald Trump pull the US out of the Paris climate agreement?

Media reports last week claimed Trump would make a decision at the summit, but those reports have been denied by the White House.

Analysts have said this is one of the most unpredictable G7 summits in history, because the White House has left the other G7 countries in the dark as to America’s intentions in a number of areas.

Ahead of the summit, over 280 global investors sent a letter to the G7 urging all seven countries to stand by the Paris Agreement and swiftly implement it. Together they represent more than $17 trillion in assets.

“Investors are sending a powerful signal today that climate change action must be an urgent priority in the G20 countries, especially the United States, whose commitment is in question,” said Mindy Lubber, President of the sustainability non-profit Ceres, which organized the letter.

“Global investors are eager to open their wallets to a low-carbon future, but it won’t happen without clear, stable policy signals from countries worldwide – in particular, the US government whose waffling on the Paris climate agreement is hugely troubling.”

Environmentalists have urged the G7 to push Trump on the climate issue.

“There is little expectation that the American President will be willing to share a constructive approach in this regard,” says Monica Frassoni co-leader of the European Green Party.

“The European participants, however, should not allow Donald Trump to intimidate and dominate everybody else. Nobody should forget that the policy of the Trump administration does not represent the views of the majority of the American people.”